Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Julie paid a day care center to watch her two-year old son this year while she worked as a computer programmer for a local start-up

  1. Julie paid a day care center to watch her two-year old son this year while she worked as a computer programmer for a local start-up company. Julie paid $2,300 to the day care center and her AGI is $14,000 (all salary). What amount of child and dependent care credit can Julie claim?

  1. In 2020, Elaine paid $3,000 of tuition and $700 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. Elaines AGI is $168,000.What is the maximum American opportunity credit Elaine can claim for the tuition payment and books?

  1. In 2020, Amanda and Jaxon Stuart have a daughter who is one year old. The Stuarts are full-time students and they are both 23 years old. Their AGI is $31,000, consisting of $26,000 of wages and $5,000 of lottery winnings (unearned income). What is their earned income credit if they file jointly?

  1. In 2020, Amanda and Jaxon Stuart have a daughter who is one year old. The Stuarts are full-time students and they are both 23 years old. Their AGI is $31,000, consisting of $8,000 of wages and $23,000 of lottery winnings (unearned income). What is their earned income credit if they file jointly?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-9

Authors: James A. Heintz, Robert W. Parry

22nd Edition

1305666186, 9781305666184

More Books

Students also viewed these Accounting questions

Question

Appreciate common obstacles to performance appraisals

Answered: 1 week ago

Question

Recognize traditional approaches to performance appraisals

Answered: 1 week ago